CenterBook Partners LP Boosts Position in Automatic Data Processing, Inc. $ADP

CenterBook Partners LP grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 69.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,934 shares of the business services provider’s stock after acquiring an additional 7,759 shares during the period. CenterBook Partners LP’s holdings in Automatic Data Processing were worth $5,557,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in Automatic Data Processing by 141.5% during the third quarter. Exchange Traded Concepts LLC now owns 13,283 shares of the business services provider’s stock worth $3,899,000 after buying an additional 7,782 shares during the last quarter. Mitchell Capital Management Co. raised its holdings in shares of Automatic Data Processing by 325.0% during the 3rd quarter. Mitchell Capital Management Co. now owns 6,800 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 5,200 shares during the period. Atlantic Union Bankshares Corp boosted its position in shares of Automatic Data Processing by 136.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 47,974 shares of the business services provider’s stock valued at $14,080,000 after acquiring an additional 27,644 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Automatic Data Processing by 2.6% in the third quarter. CIBC Asset Management Inc now owns 183,561 shares of the business services provider’s stock valued at $53,875,000 after purchasing an additional 4,720 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Automatic Data Processing by 18.4% in the third quarter. Thrivent Financial for Lutherans now owns 138,215 shares of the business services provider’s stock valued at $40,566,000 after purchasing an additional 21,444 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 266 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $237.00, for a total value of $63,042.00. Following the sale, the vice president owned 10,954 shares of the company’s stock, valued at $2,596,098. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Kwon sold 900 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $260.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president owned 11,993 shares of the company’s stock, valued at $3,118,180. The trade was a 6.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,515 shares of company stock worth $887,074. 0.20% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Up 0.5%

ADP opened at $213.08 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $208.62 and a 52 week high of $329.93. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $250.72 and a 200-day simple moving average of $270.85. The firm has a market cap of $85.79 billion, a P/E ratio of 20.49 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 28th. The business services provider reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.34 billion. Automatic Data Processing had a return on equity of 68.44% and a net margin of 19.96%.Automatic Data Processing’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 EPS. Automatic Data Processing has set its FY 2026 guidance at 10.091-11.011 EPS. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing declared that its board has approved a stock repurchase program on Wednesday, January 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, March 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. Automatic Data Processing’s dividend payout ratio is 65.38%.

Analysts Set New Price Targets

A number of equities analysts have commented on ADP shares. Wells Fargo & Company reduced their target price on shares of Automatic Data Processing from $272.00 to $262.00 and set an “underweight” rating on the stock in a research note on Thursday, January 29th. Stifel Nicolaus reduced their price target on shares of Automatic Data Processing from $280.00 to $270.00 and set a “hold” rating on the stock in a research report on Monday, February 9th. Jefferies Financial Group reiterated an “underperform” rating and issued a $230.00 price objective (down from $245.00) on shares of Automatic Data Processing in a research report on Tuesday, December 16th. Citigroup reduced their target price on Automatic Data Processing from $303.00 to $265.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Automatic Data Processing in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $290.00.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.

ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.